{"product_id":"finance-and-economics-discussion-series-using-federal-funds-futures-contracts-for-monetary-policy-analysis-paperback","title":"Finance and Economics Discussion Series: Using Federal Funds Futures Contracts for Monetary Policy Analysis - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eRefet S. Gurkaynak\u003c\/b\u003e (Author), \u003cb\u003eUnited States Federal Reserve Board\u003c\/b\u003e (Created by)\u003c\/p\u003e\u003cp\u003eFederal funds futures are popular tools for calculating market-based monetary policy surprises. These surprises are usually thought of as the difference between expected and realized federal funds target rates at the current FOMC meeting. This paper demonstrates the use of federal funds futures contracts to measure how FOMC announcements lead to changes in expected interest rates after future FOMC meetings. Using several 'surprises' at different horizons, timing, level, and slope components of unanticipated policy actions are defined. These three components have differing effects on asset prices that are not captured by the contemporaneous surprise measure.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 36\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.07 x 9.69 x 7.44 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e February 06, 2013\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52733286089011,"sku":"9781288711536","price":29.68,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/lUIC9MWICt9781288711536.webp?v=1763924266","url":"https:\/\/www.vysn.com\/products\/finance-and-economics-discussion-series-using-federal-funds-futures-contracts-for-monetary-policy-analysis-paperback","provider":"VYSN","version":"1.0","type":"link"}